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Mississippi Means Business

By Ellen James

With the people, re-sources, and determination to accomplish anything, Mississippi has demonstrated its ability to compete for business investment. The state’s pro-business leadership, attractive incentives, and a workforce that has been characterized as skilled, productive, and dedicated by some of the world’s most respected companies come together to create an environment where businesses can thrive.

Mississippi’s business climate is among the friendliest in the nation, accentuated by business taxes that are 26% below the national average. With a “can-do” attitude and proven track record of delivering on time and under budget, Mississippi provides businesses the foundation to be more competitive. In addition, the state has plenty of customized incentives and financing programs to meet the needs of each unique project. Thanks to the Momentum Mississippi Incentive Program, which was passed in 2005, over 7,500 jobs have been created by companies taking advantage of incentives offered through various Momentum Mississippi programs including the Ace Fund Program, the Development Infrastructure Program, the Existing Industry Loan Program, the Incubator/R&D Loan Program, the Job Protection Act, and the Advantage Jobs program.

On top of incentives, Mississippi has a labor force of 1.3 million reliable workers, with a low 3% absenteeism rate and only a 5% turnover rate. This reliability and stability help ensure the success of any business located in the state. In addition, labor costs in Mississippi are among the lowest in the nation, which help hold down the overall cost of doing business in the state. The state has also customized its workforce training programs by joining forces with the local community colleges and other institutions.

The state boasts a total of eight public universities, 13 private colleges and universities, and 15 community colleges. The University of Southern Mississippi (USM) is a leader in the area of polymer science, with one of the top programs in the nation. The premier Polymer Research Institute includes one of the most advanced rapid prototyping systems in the world. In addition, the University of Mississippi offers a pultrusion technology program, and Mississippi State University (MSU) has a wood products laboratory that provides training for the plastics/polymer industry. Moreover, MSU also operates the Center for Advanced Vehicular Systems and its satellite facility in Canton, MS, near the Nissan plant.

Many companies have already taken advantage of Mississippi’s top-notch business climate. In April, Toyota announced the location of its eighth North American automotive manufacturing facility in Blue Springs, MS. The $1.3 billion facility will have the capacity to produce 150,000 Highlander SUVs annually.

Both Toyota Auto Body Co., Ltd. and Toyota Boshoku-America re-cently announced that their companies would build plants in North Mississippi totaling $260 million in investments. This is the first U.S. investment for both companies and it represents the first announced Tier I suppliers to Toyota’s new facility. These suppliers join roughly 90 other automotive manufacturing, distribution, and supplier companies located in Mississippi.

In addition, PACCAR broke ground in July 2007 for its $400-million diesel engine plant in Columbus, MS—the first in the United States.

Read on to discover two prime locations in Mississippi that could make great destinations for your next business investment.

Opportunity in Walthall County

When MultiCraft decided to shut down its plant in Walthall County, MS, the Walthall County Board of Supervisors purchased the 60,000-square-foot facility, located on a 26-acre site in Tylertown, MS, to help generate economic development for the area. The county hopes the facility will attract a company to replace the 350 jobs (ranging from assembly line workers to top-level design engineers) lost when the MultiCraft plant, which manufactured plastic-injected molded wiring harnesses, closed its doors.

Being the only available “Class A” facility in Southwest Mississippi, the Walthall County Board of Supervisors has high hopes for locating a supplier for nearby auto manufacturers or other quality companies.

Although Tylertown is a small community, it is easy to fulfill the workforce needs of a large company locating there, as over 630,000 people live within 55 miles of Tylertown.

On top of MultiCraft’s recent plant closing, Walthall County has gone from approximately 400 dairies to less than 30, resulting in plenty of available labor with a strong work ethic. As of September, unemployment in the county was at 6.6%.

In addition, a large percentage of Walthall County’s workforce has a higher skill set than is needed for the positions that they currently fill, meaning there is a workforce with underutilized skills to take advantage of as well.

Not to mention, the county’s manufacturing wage is 29% less than the Mississippi average and 55% less than the national average. With all this in mind, it is easy to see that Walthall County and the surrounding area has a loyal, non-union, hardworking workforce with cost-effective wage rates to offer prospective employers.

So, if you’re interested in finding a quality facility in a convenient location with an aggressive lease/purchase structure, potential payroll savings, tax advantages and benefits, and a dedicated local community, be sure to put Walthall County on your radar screen. For more information on what the county has to offer your company call 601-876-2680 or visit www.availablefacility.com You’ll be glad you did.

Economic Momentum in East Mississippi

Mississippi Credit: Walthall County Economic Development Authority

Over the last couple of years, the East Mississippi Business Development Council (EMBDC)—a private, non-profit organization serving Meridian/Lauderdale County, MS—has built economic momentum in the region by helping to secure new and existing company expansions for the area. Some of these recent investments include Tower Automotive ($60 million, creating 220 jobs), Loblolly Industries ($140 million, creating 140 jobs), Teikuro Corporation ($6 million, creating 15 jobs), Clutch Auto ($2 million, creating 15 jobs), and Easter Creek ($3 million, creating 15 jobs).

According to Skip Scaggs, manager of Business Development at the EMBDC, “Each of these investments recognizes Meridian as providing a competitive advantage. In some instances, it was location and proximity to customers and/or raw materials; in other instances, it was the advantage of our workforce.”

From pre-school to graduate school, Meridian/Lauderdale County offers quality education, including four nationally recognized Schools of Excellence. Institutions of higher learning include Meridian Community College and Mississippi State University-Meridian. Through its Tuition Guarantee Program, Meridian Community College ensures that students graduating from local high schools have the opportunity to attend two years of college, either through university transfer courses or vocational and/or technical education courses. From teachers to parents and leaders within the workforce community, Meridian’s educational systems receive an overwhelming amount of support that translates into a better workforce for the region.

 

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